Iran’s gas export to Europe will come with good benefits- MP

Iran's gas export to Europe will come with good benefits and a bright future is expected if the sides manage to make deals, an Iranian MP has said.

Europe is among the traditional customers of Iranian gas and the European energy market is a priority for the post-sanctions era, First Deputy Chairman of the Iranian Parliament's Energy Commission Mohammad Said Ansari told Trend Sept. 30.

Iran is preparing to introduce new designed contract (Iran Petroleum Contract) next month in Tehran to absorb $185 billion investment in oil and gas sector. Iran planned to increase gas production from current 180 billion cubic meters per annum (bcm/a) to 400 bcm/a in 2020. The country needs $16 billion investment in pipelines to transit its gas to Europe.

EU has banned gas import from Iran in mid-2012, but it's expected the ban be eliminated in early 2016 due to nuclear agreement.

Ansari hoped that next week the lawmakers will vote yes to the Joint Comprehensive Plan of Action (JCPOA), the nuclear deal reached between the Islamic Republic and the group 5+1 (the US, UK, France, Russia, China, and Germany) on July 14.

Parliament presiding board member Mehrdad Bazrpash said a day earlier that the JCPOA is under close scrutiny at a special commission launched for the purpose to put the deal under expert evaluation. He said the commission would hand its full report to the presiding board on Oct. 4.

The deal is to curb Iran's nuclear deal in return for lifting economic sanctions on the Islamic Republic.

This week Iran held talks with Poland as a gateway to Europe's energy market. The talks were held while Polish Deputy Prime Minister and Minister of Economy Janusz Piechocinski were in Tehran.